Business, 24.08.2019 08:30, wavy419

Nancy and betty enter into a partnership agreement where they decide to share profits according to the following rules: nancy and betty will receive salaries of $1, 300 and $13, 500 respectively as the first allocation. the next allocation is based on 10% of each partner's capital balances. any remaining profit or loss is to be allocated completely to betty. the partnership's net income for the first year is $40,000. nancy's capital balance is $100,000 and betty's capital balance is $11,000 as at the end of the year. calculate the share of profit/loss to be allocated to betty. (round your answer to the nearest dollar.) $11,300 $10, 200 $28,700 $1,110

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Nancy and betty enter into a partnership agreement where they decide to share profits according to t...